Indianapolis, Indiana
December 13, 2000

Dow AgroSciences LLC, Indianapolis, Ind., U.S.A., and Cheminova A/S, Lemvig, Denmark, have agreed to form a 50:50 joint venture to register and market a premium pyrethroid insecticide. The new Zurich-based company, Pytech Chemicals GmbH, will develop products with superior efficacy at lower application rates than any pyrethroid insecticide available today. The new insecticide will be introduced initially in agricultural row crops and will target chewing and sucking insects, a market that accounts for US $1.5 billion worldwide sales of pyrethroids each year.

Products developed by Pytech Chemicals are expected to be introduced in the U.S. in 2003, with
worldwide distribution occurring in 2004. Terms of the joint venture were not disclosed.

"Pytech Chemicals provides significant strategic and commercial value by introducing a product
that is substantially more active than other pyrethroid insecticides,'' explained Stan Howell, Global Leader for Insect and Disease Management at Dow AgroSciences. "By adding a world-class pyrethroid to our stable of leading insecticides, chlorpyrifos and spinosad, Dow AgroSciences will be able to offer customers an expanded portfolio of products with different modes of action.''

Bjorn Albinus, managing director, Cheminova A/S, said the joint venture will facilitate expansion of
Cheminova's product offering and will demonstrate its leadership in the production of plant
protection chemistry.

"Cheminova A/S is committed to producing and marketing internationally a wide range of plant
protection products by in-house process development, registration and the development of
formulations,'' he says. "Pytech Chemicals is a hallmark of that vision.

"Pyrethroid manufacturers have been moving to resolved isomers as a way to increase efficacy
and lower rates of application. We've done the industry one better by producing the most active
isomer directly by stereoselective process,'' Albinus explained. "This single isomer pyrethroid is a true advancement, delivering greater efficacy at lower use-rates.''

Dow AgroSciences LLC, based in Indianapolis, Ind., U.S.A., is a global leader in providing pest
management and biotechnology products that improve the quality and quantity of the earth's food
supply and contribute to the safety, health and quality of life of the world's growing population.
Dow AgroSciences has approximately 6,000 people in over 50 countries dedicated to its business, and has worldwide sales of more than US $2 billion. Dow AgroSciences is a wholly-owned subsidiary of The Dow Chemical Company (NYSE: DOW - news).

Cheminova A/S produces and markets fine chemicals, the most important product group being
plant protection products. The annual turnover totals about DKK 2.5 billion. As much as 99
percent of the turnover derives from exports to more than 100 countries across the world.
Cheminova A/S employs 900 persons in Denmark and 550 abroad. 

Company news release
N3194